Many people debating Hugh Hefner’s estate planning practices

| Nov 2, 2017 | Estate Planning

 Those in Illinois facing issues regarding final wills and testaments may want to pay close attention to an ongoing debate regarding Hugh Hefner’s plans. Inside sources say Hefner’s estate planning documents included prenuptial contracts, a final will and several other documents as well. One detail that has shocked many is that his wife Crystal Harris, whom he married in 2012, was not listed in his will as his beneficiary.

As was often the case in the publishing mogul’s life, gossip and rumors surrounded his death. Some say he was was still married to Kimberly Conrad when he married Harris. This, they contend, is posing complications regarding his estate plan.

Harris is said to have signed a prenuptial agreement excluding her from any of his business holdings. Laws regarding what a particular surviving spouse is entitled to in a deceased spouse’s estate vary by state. A premarital contract, however, can limit a surviving spouse’s right to take under a deceased spouse’s will. 

Illinois spouses can seek clarification of their rights ahead of time to avoid complications when the time comes to administer a deceased spouse’s estate. Anyone named in a spouse’s estate plan will also want to remain updated as to any changes that may be filed while the owner of the estate is still living. If questions arise as to whether a particular contract is valid or whether a will can be contested, etc., answers can be sought by requesting a meeting with an experienced estate planning and probate law attorney.

Source: The Huffington Post, “Reading Playboy for the Articles: Is Estate Planning Your Estranged Spouse’s Ultimate and Final Controlling Act?“, Nicole H. Sodoma, Oct. 31, 2017